With the RBA in a hawkish mood, the Aussie seems destined to hit parity. But this has varying implications for stocks, inflation, the trade balance and monetary policy itself.
Currencies have been leading other financial markets since early 2008, so positive moves by EUR/USD could be the harbinger for more positive moves elsewhere.
The minutes of the September RBA board meeting do little to dispel the belief interest rates will be on the move again soon.
BHP’s bid for Potash was a clue, as was BHP and Rio’s request for an extension from the ACCC, but at least one broker has now removed the Pilbara JV from its valuation model.
Others may have a negative view on CBA shares, but the Wizard sticks to the observation the shares are range-trading and are likely to continue doing so.
Tim Price returns from holidays with that same vitriolic view on politicians, bankers, equity markets and debt. At least his views on gold haven’t changed.
Charlie Chartchecker predicts the rise and rise of the AUD will be put to some serious tests in the weeks ahead.
If the Sydney-Melbourne air route is the third busiest in the world as of July, then Australia’s ex-mining economy can’t be all that bad, suggests CommSec.
An impressive European hybrid issue is another incremental positive along the road to GLNG’s second train and a share price re-rating for Santos.
Gerard Lyons, chief economist at Standard Chartered, on global growth and what lies ahead for China.
